Search results
Results from the WOW.Com Content Network
The Dual Sector model, or the Lewis model, is a model in developmental economics that explains the growth of a developing economy in terms of a labour transition between two sectors, the subsistence or traditional agricultural sector and the capitalist or modern industrial sector.
The three-sector model adds the government sector to the two-sector model. [17] [18] Thus, the three-sector model includes (1) households, (2) firms, and (3) government. It excludes the financial sector and the foreign sector. The government sector consists of the economic activities of local, state and federal governments.
A dual economy is the existence of two separate economic sectors within one country, divided by different levels of development, technology, and different patterns of demand. The concept was originally created by Julius Herman Boeke to describe the coexistence of modern and traditional economic sectors in a colonial economy.
Economic Studies Quarterly. 12 (2): 52–60. Uzawa, Hirofumi (1962). "Production Functions with Constant Elasticities of Substitution". Review of Economic Studies. 29 (4): 291–299. doi:10.2307/2296305. JSTOR 2296305. Uzawa, Hirofumi (1963). "On a Two-Sector Model of Economic Growth II". Review of Economic Studies. 30 (2): 105–118. doi:10. ...
However, by enlarging the model to a two-sector model, more remarkable features of Ricardian economics emerge. The two sectors include: the basic goods sector (wage goods called ‘corn’) and a luxury goods sector (called ‘gold’). The whole new model appears as: = (2.1)
The AK model, which is the simplest endogenous model, gives a constant-savings rate of endogenous growth and assumes a constant, exogenous, saving rate. It models technological progress with a single parameter (usually A). The model is based on the assumption that the production function does not exhibit diminishing returns to scale.
Goldman Sachs's new sector model suggests more defensive positioning as Wall Street prices in near-record optimism. It points to defensive sectors like utilities and healthcare, which have more ...
The Uzawa–Lucas model is an economic model that explains long-term economic growth as consequence of human capital accumulation. Developed by Robert Lucas, Jr., [1] building upon initial contributions by Hirofumi Uzawa, [2] it extends the AK model by a two-sector setup, in which physical and human capital are produced by different technologies.